iA Networks Company Limited (KOSDAQ:A123010) announced a private placement of 3rd series non-guaranteed private equity convertible bond for aggregate proceeds of KRW 10,000,000,000 on April 16, 2020. The transaction will include participation from Quantum No. 1 union. The bond carries a fixed coupon and yield to maturity of 3% per annum. The bond will mature on July 31, 2023 and will be 100% converted into 5,225,890 common shares. The conversion period for the bonds is from July 31, 2021 to June 30, 2023. The transaction is expected to close on July 31, 2020. The transaction has been approved by the board of director of the company.